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peroni company paid wages of $170,900 this year. of this amount, $114,000 was taxable for net futa and suta purposes. the state's contribution tax rate is 3.1% for peroni company. due to cash flow problems, the company did not make any suta payments until after the form 940 filing date. compute the following; round your answers to the nearest cent.
a. amount of credit the company would receive against the futa tax for its suta contributions
$
b. amount that peroni company would pay to the federal government for its futa tax
$
c. amount that the company lost because of its late payments
$
a. (taxable wages x suta rate x 90%) + [taxable wages x (5.4% -suta rate)] = total futa tax credit
b. (taxable wages x futa rate) – total futa tax credit (part a above) = net futa tax
c. net futa tax – futa tax without penalty = penalty